Harborquest Inc

Analysis

Harborquest Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in December 1972, 54 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Harborquest Inc reported income of $2.2m and spending of $2.2m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.4m to $2.2m (-36%), an average of -11% a year. The sharpest change came in the year to June 2021, when income rose by 75%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Harborquest Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within IL. Charities of a similar size with the same main cause include New England Business Growth Collective Inc ($2.2m), Help Works Inc ($2.2m) and Innovation Marquette Enterprise Corporation ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $1.7m. At year end it held assets of $572k against liabilities of $218k, net assets of $354k. It reported 286 employees.